Hedge funds rushed to place bullish wagers on U.S. crude oil last week, boosting it to the highest levels since mid 2014, data showed on Friday, as prices rallied on hopes that Saudi Arabia and the world’s top producers were sticking to a plan to rein in output. The speculator group raised its combined net long futures and options position in two major NYMEX and ICE markets by 44,481 contracts to 371,539 in the week to Jan. 17, its highest since July 2014, U.S. Commodity Futures Trading Commission (CFTC) data showed. Gross long positions in NYMEX futures and options among speculators soared to the highest on record, based on publicly available data to 2006. U.S. oil futures on the New York Mercantile Exchange rose nearly 4 percent and averaged $52.18 per barrel during the five trading days ended Jan. 17, […]